Crypto Bot Settings: Why you should never pay for them!
Scammers are trying to get your back. This article wants to help you avoid getting scammed and help you get some free help instead. Read it to the end–I promise, it is worth the time.
If you reached this article, you likely know what a trading bot is–if you don’t here’s a short run down in one paragraph. Skip it if you don’t need it.
A Crypto Bot or Crypto Trading Bot is a piece of software that automates your trading of cryptocurrencies. It buys based on some indicators and sells based on some other indicators — hopefully with a profit. 😉 One of the best and most famous Crypto Bots out there is ProfitTrailer. Also, there’s a renowned addon for it called PT-Feeder that automates everything a bit more based on what the market does.
Setting up ProfitTrailer and PT-Feeder needs some time. Especially for beginners, the learning curve is quite steep. There are not a lot of colorful buttons to click (at least not yet). Instead you need to dig into config files, and it’s understandable that this is challenging. But: I haven’t yet seen someone that doesn’t get into that quite quickly with some effort.
Additionally, you need to get your settings right — you need to find a way to make the bot buy at the right point so it can sell for profit. Finding the right way to trade also can be challenging in the beginning.
And here it becomes intimidating to get someones else’s settings, especially when they promise to make you BIG MONEY.
5 Reasons why you should never pay for Bot Settings
There are quite a few people out there that offer to sell you their settings. And while first, you might think “well why not pay someone if they help me reach my goals” I have a list of reasons for you why this is a terrible idea.
Sidenote: While I’m talking a lot about ProfitTrailer here, this is the same for nearly every other bot.
1. You’re buying a pig in a poke — and I promise it’s an ugly one.
All of these setting sellers promise to give you their ‘perfect money making’ settings. From what I have seen so far none of them even bothered to create some settings themselves. Most of them are using settings that other people give away for free or ones that are coming out of tools like PT-Feeder.
Not a single paid-for package that I have seen so far, contained settings that were anything close to good.
2. You’re funding scammers
It’s quite clear. Someone that promise to sell you settings with a profit guarantee and then only gives you some common, and freely available ones, is a scammer. With you throwing your money at them, you are funding scammers and this is probably not what you want.
3. Markets are constantly changing
Markets don’t behave the same every day. There are no general settings that work in all markets. Even though these scammers promise to update you regularly with new settings, most of them don’t or send you some other crappy settings as an update.
You’re better off using tools like PT-Feeder to adjust your settings based on market events. Of course you should also not pay for PT-Feeder settings for the same reasons.
4. There are free alternatives out there
If you think you need to get other peoples settings, feel free to do so. And by saying feel free, I really mean don’t pay for them. There are a lot of people in the community sharing their settings. Here are some links to these people, sign up for my Newsletter above to get regular updates on these.
Also, the official ProfitTrailer Discord chat has a lot of great people that are able and willing to help you find your own way. You only need to bring the will to learn and your friendly self. Try it out!
5. There are no general perfect settings
Sure, some settings are better than others but as we said market change a lot and there are a lot of other factors coming into the game (Exchange, Base Currency, your balance, your risk awareness). So there are no generally right settings. Even if you use free settings from someone else, you should always be aware that they likely work best if you modify them to your need and taste. Just take them as a starter to run from and try to make up your own.
In the end, if everyone would run the same “perfect” settings, you can easily imagine that this wouldn’t work very long.
So, after all, you hopefully know why it’s a bad idea to pay for settings. If you’re going to use someone else’s settings please in any case know:
You are risking YOUR money, not theirs
Whenever you use other peoples config, make sure you try to learn to understand these settings and what they do as soon as possible and maybe also only use it for Paper trading first (ProfitTrailer 2.0 has just introduced that). Otherwise, you are risking your money and put your luck in the hands of others. If you start Bot trading, make sure to take some time to educate yourself — that’s the only way for longer-term success in this space.
Thankfully you’ve read this until here. I appreciate that. 👍 Keep going and help spread the word.
If you liked this article and agreed with it, please help me spread the word and share it. ❤️
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